New Delhi, November 29, 2021: The report titled “UAE Medical Device Market Outlook to 2025 – Driven by technological advancement, increase in the aging population and a rise in the prevalence of chronic diseases in the country” provides a comprehensive analysis on the status of the medical device market in UAE. The report covers various aspects including the current market scenario in UAE, procurement and pricing trends, market potential of each medical device, major growth drivers, tech disruptions and innovations, and competition benchmarking. The report concludes with market projections for future of the industry including forecasted industry size by revenue and business activity.
UAE Medical Device Market Overview and Size
UAE is the fourth largest medical device market in the Middle East and Africa region, growing @8.7% CAGR in 2015-2020. It is a highly price sensitive and import dependent market with advanced medical devices imported from countries such as US, Germany, Japan and China and local production limited to prototype units, spare parts and disposables such as surgical gloves, syringes, and needles. UAE’s increasing budget allocation for the healthcare sector and ongoing healthcare development projects has played a pivotal role in the continued growth.
UAE Medical Device Market Segmentation
By Procurement: Imports have accounted for majority of the revenue share in UAE Medical Device Market in 2020. The imports are largely related to more sophisticated medical and surgical instruments and infrastructure.
By Mode of Sales: Distributor Mediated Sales have accounted for majority of the revenue in UAE Medical Device Market in 2020. Majority of the international companies hire distributors in UAE through which it sells the medical devices to hospitals, diagnostic laboratories and other non-residential customers.
By Type of Medical Device: Medical Consumables have accounted for the largest revenue share in UAE Medical Devices market in 2020, followed by Diagnostic Imaging product and Respiratory Products with Public & private hospitals and diagnostic labs/clinics make up the larger end users for each segment/sub-segment of the industry.
By Type of Medical Consumables: Surgical Gloves and Masks, Syringes, Needles and Catheters and Intravenous IV Administration Sets contributed more than 50.0% revenue in 2020. The COVID-19 outbreak and increasing hospital admissions across the country have significantly increased the demand for medical disposables.
By Type of Diagnostic Imaging Product: CT Scans contributed the highest revenue share in 2020 followed by X Ray Based Products, Ultrasound and MRI. The CT Scan segment witnessed the fastest growth since they are one of the primary diagnostic tools for COVID-19 patients.
By Type of Cardiac Device: Angioplasty Device Angioplasty and CRM have accounted for the major share in the UAE medical device market in 2020. 6.5 mn people have at least one major risk factor for heart diseases driving the for the growth of cardiac device market.
By Type of Respiratory Product: Oxygen Concentrators contributed highest revenue share in 2020. The UAE population has high risk of exposures to occupational and environmental factors that lead to illnesses such as asthma, chronic bronchitis and emphysema. Prevalence of asthma in UAE is 8.6% in male and 11.8% in female young adults 20-44 years.
By Type of Hospital Furniture: Hospital Beds with Mechanical Fittings and Dentists’ Chairs contributed highest revenue share in 2020.Increasing number of hospitals and lifestyle diseases along with operations on morbidly obese patients increasing by more than 5,000 cases a year is driving growth.
By Type of Auxiliary Product: Hearing Aids have accounted for the major share in the UAE medical devices market in 2020. Increase in hearing loss (4% of people in UAE live with impaired hearing) is the main reason for the growth of hearing aids devices in the country.
By Type of Dental and Orthopedic Products: Orthopedic Appliances contributed the highest revenue in 2020. Oral implant surgery, products for sensitive teeth and gum are some of the major areas in dental care which led to demand of these equipment’s.
By End Users Hospitals along with Clinics and Diagnostic Lab Centers contributed highest to the market revenue in UAE Medical Devices Market in 2020. Consumer and provider attitudes toward telehealth have improved since the post-COVID-19 era.
Competitive Landscape in the UAE Medical Market
The competition scenario in UAE medical devices market is highly fragmented due to the presence of large number of international companies and local distributors leading to dilution of market share. The international companies distribute their products through authorized distributors located across the country. GE, Siemens, Philips, Hill-rom, Fresenius, Phonak, Stryker are the major companies operating in the UAE Medical Device market. Pharma trade, Gulf & world traders, Pure Health and Al Zahrawi are few top distributors in UAE. The major competitive parameters include product portfolio, price, and distribution network, pricing, after support services and marketing activities.
UAE Medical Device Market Outlook & Projections
The UAE medical device market is expected to generate ~ revenue in 2025, with imports contributing highest share to the market revenues. The creation of a world-class healthcare sector is a top priority for the UAE and the healthcare sector is expected to advance and expand significantly in the next few years which will support the growth of Medical Device Market in the country. The Healthcare expenditure in UAE is expected to rise from $15.5 Bn in 2019 to $ 29.2 Bn in 2029. Aging population along with increase in number of hospitals and clinics, increase in total healthcare expenditure by the government and increase in medical tourism in the country are going to impact the demand for medical devices in the positive manner.
Corporate Comm India (CCI Newswire)
